tv Varney Company FOX Business November 16, 2016 9:00am-12:01pm EST
... ... >> i want to thank my phenomenal panel for the morning, leah gabriel, different carter. "varney & company" begins right now and here is ashley webster in for stu. ashley: good morning, i am indeed ashley webster. stuart, by the way, back tomorrow. here is the big story today. the left remains apoplectic over president-elect donald trump and we have several examples. mr. trump goes to dinner and the media loses it. that's right, he and his family left trump tower for a steak dinner at manhattan's 21 club and scream lack of transparency. look at this headline, as trump leaves for steak dinner, incoming administration already showing lack of transparency.
did he have it rare, medium, well done? here is more. certainly more where that came from. disruptive anti-trump protests continuing. high school students leaving school. they just want to get out of class. blocking traffic, some waving mexican flags. today at least two colleges, new york university and rutgers university in new jersey are planning walkouts and the schools are apparently okay with it. senator harry reid once again using the senate floor to demagogue his political opponents unopposed. this time he said his sights on steve bannon, president-elect trump's pick for white house advisor. the democrats, you could say are desperate and delayed their leadership votes after thanksgiving giving rank and file losing confidence in nancy pelosi, will she lose hers?
we'll be on drum p cabinet watch. a lot can happen. "varney & company" is go r about to begin. ♪ >> obviously not a normal situation when you're talking about dealing with a president-elect. normally in these situations whether the person likes it or not we understand it can be a difficult thing to get used to having a pool of reporters follow you everywhere, but, you know, this is part of what being a president-elect is about. you no longer get to have the same level of privacy you did as a normal citizen even if your life as a normal citizen was being a celebrity. ashley: oh, the horror, the shame. that's all the mainstream media is focusing on today. not cabinet appointments, a steak dinner. we have more on that coming up, i promise. all right, a slightly lower opening for stocks as we get back to business this morning. the dow coming off the 13th record close of the calendar year. only about 77 points away from
dow 19,000, it today the day we hit that mark? let's look at oil. the latest reading on fly will come up in the next hour. and this was helped by a back to school shopping season, but home improvement retailer lowe's going lower, cutting its profit forecast again and fewer customers visited its stores and we'll have more on that on the market open. it's going to open lower. we're on cabinet watch. where is stuart varney? i just speculate. we think he's there to personally negotiate lower tax rates. a lot of big names have been in and out of trump tower the last 48 hours and more announcements could be today. and donald trump is trying to squash reports of chaos with appointments to the cabinet. >> very organized process taking place as i decide on cabinets and many other positions.
i am the only one who knows who the finalists are, exclamation point. he's the only one. ashley: i want to know if he ordered the chicken hash at 21? >> a lack of transparency. liz: did you want to know the names right now. ashley: yes floated. liz: peter thiel was scene, shaun spicer, lieutenant chief kellogg, a new name. jeff sessions and the usual suspects, sorry to say that, joking. marla maples, and. ashley: rudy guiliani raising eyebrows, secretary of state. trump's unexpected steak dinner at the 21 club dinner. it has the mainstream media freaking out. take a look at the headline from cnn, donald trump ditches his press pool again spurring sharp criticism. how about this from nbc, as trump leaves press behind for steak dinner, incoming admin
already showing lack of transparency. oh, my gosh, where do we go from here? it's so awful, liz peek, welcome to the show. aside you said prior to the broadcast, your husband happened to be at the 21 club and guess who sat next to him? >> exactly he was at the next table and as donald trump came in, of course, there was enormous security. and even though he had left the press pool behind. and my husband and his guests started to applaud, the whole restaurant, applauding and donald trump. he was at the next table and donald trump shook everyone's hands and said it was nice to meet you. and when mike bloomberg became mayor of new york city, he sat down different ground rules. he had privacy. if he wanted to take his jet and went to bermuda, he did it. he left the press pool behind and needed no one's permission.
i think we'll see someothing different with this why should he have the press po pool. there's no security issue. the liberal press is going nuts anytime that they can they are going to find something offensive about donald trump's behavior. it seems to me this is completely okay. that's my opinion. ashley: that's all they can come up with, they got left behind as he went off for a steak dinner. plenty more when we carry on. fresh off house speaker house ryan was feeling confident about the trump presidency said we're on the dawn of a new unified republican government. that sounds good. let's bring in louie gohmert. is this as unified as paul ryan
would have us believe? >> i would like to think it is. politico was not accurate, i was not yelling at paul ryan. i was forcefully making my position known. it might have felt like my voice was getting loud. my point was that for all of paul's career since i've been here, he has supported trade agreements. he totally supported the tpp, wrote an article about it, co-wrote i and then he-- as far as what i would call amnesty and some call it not, he has supported some form of amnesty since i've been aware of him. so, i wanted to hear from paul how all of a sudden, two of the most important planks in trump's platform were going to be able to be carried out by a guy who has been totally 180 degrees opposed to those positions and all i got was, you know, give me a call and we'll talk about it. i had hoped in front of the
whole conference to talk about these things, and one of the things that was mentioned at one point, here in the last couple of weeks, is-- well, since the election, that we have maybe two-thirds of our conference was not here in '05 and '06 when we last had the presidency house and senate. and so, what i'm experiencing this week is, so many new people coming in exactly like i did in '05. this is exciting, wow! i'm in congress? i never dreamed of this. this is incredible. and took a year for me to, yeah, and we're together, you've got to be a team. and after a year of that, i went, wait, we promised to throw out the tax code, we were going to redo all of this, we were going to shore up social security and now my leaders in '06 saying we're going to try to get through the year. and that's what i'm afraid is about to happen here. ashley: i understand. >> that we're together and put them aside, that's my big
concern and we can't come to the brink like we did on tuesday ever again. ashley: that's very good. let me ask you about one of the big campaign promises quickly. trump's border wall, is it ready to go? is it shovel ready? >> it should be. there have been enough studies done for it and it's just that janet napolitano decided we're not going to do that. so i've got a request in, let's find out where that money went. and how much is of the money is left. once it's appropriated it's there to be spent and we need to find out where it is so we can start the process. of course, the president has to do that, we know that obama won't. i heard a democrat earlier today, i guess on c-span saying, oh, yeah, you know, president trump needs to come down to the border. he's been to the border. ashley: he has. >> we don't need it through big
ben national park, put balloons out there, but we can get it done where it needs to be done. this is doable. ashley: that's a great place to do it. you don't shout at anyone. thank you very much: check it out, pear-shaped diamond earrings each more than 50 carats, sold at christie's short of estimated selling surprise supposed to be 20 to 30 million. i got it bargain. liz: i think i just got a text from your wife. ashley: don'cash the text. anti-trump protests continue high schools in new york and d.c. getting in on the action yesterday. walking out of class to protest the president-elect. students at nyu and rutgers university planning similar protests today. twitter suspending some accounts associated with the alt-right movement.
and senator barbara boxer wants a constitutional amendment to do away with the electoral congress. how is that going over in a republican controlled congress? more varney in a moment. hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go! the market's hot! sync your platform on any device with thinkorswim. only at td ameritrade do you have thecare? coverage you need? open enrollment ends december 7th.
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>> all right. take a look at amazon. the company ramping up local delivery for items like medications, liquor and snacks. there's a joke in there somewhere, but that stock will be slightly lower. we'll take a look at that. and boeing revamping its space and defense division and doing that by cutting some 500 jobs. and the stock is going to go lower. and twitter suspending some counts saesassociated with the alt-right. liz: twitter is trying to sell itself possibly to disney or salesforce.com and that twitter abuse was possibly a reason why they couldn't sell itself. so twitter suspending these
alt-right accounts and twitter saying they have a policy against hate speech and suspended the accounts used by isis, so, twitter does have that policy as it moves to expand its mute button as well. the use of that to stop people putting abusive messages on-line. ashley: got it, thank you. wee on cabinet watch, of course. politicians like the ones on the screen, all over the place, they continue to stream in and out of trump tower. our next guest is on the trump transition team, executive committee, republican from tennessee, com marsha blackburn. thank you for being with us. >> so good to be with you. the words used to describe the transition team and how it's been working, in-fighting, knife-fight, turmoil, disarray and chaos. i'm glad to see you've survived so far. how accurate or inaccurate are those comments? >> actually, i would expect nothing less from the mainstream media.
they've already had to apologize for how they've covered the campaign. what is going on is conversations about how to put the right people in the right place. how to carry out mr. trump's objectives. how to make certain that information is appropriately gathered and that you look at skillsets that people have for what is needed in different departments of the federal government. so, instead of spending their time educating the american people on who all composes the cabinet and the different federal agencies, what they're doing is trying to create a daily drama and it's just not working. donald trump is going to have one of the most productive cabinets ever, ever. and they are going to get things done, and he is being meticulous in making certain that the right people are in the right queue for the right jobs and what needs to be done to build a sustainable
effective organization. so, you know, give him room to breathe. ashley: do we get announcements today? because i'm impatient. >> you know, i've got to tell you, i think that what you're going to see come forward is maybe not answers and appointments today or tomorrow. i think let's give time for some of these interviews to take place and for them to be able to make certain they have the right people in the right spots. ashley: very good answer. next one, congresswoman, what would you make of barbara boxer's long shot bill to do away with the electoral college system? is that just sour grapes? >> of course it's sour grapes. the elitists on the left coast and the right coast can't stand it when the american people in the middle of the country or as they call it flyover country. ashley: right. >> stand up and say, we have had it with our money being
wasted, and so now, in order for the urban areas to have control, they're trying to say, oh, let's go in here and do away with the electoral college. the electoral college is designed for a purpose so that everyone has a voice in this process and that all voices are heard. . ashley: very good. >> she can throw her temper tantrum as she exits and that's just fine. her bill is going nowhere. ashley: very good. we'll leave it at that, senator. thank you so much, marsha blackburn and for the trump cabinet as well. and harry reid blasting president-elect trump on the senate floor says trump's new steve bannon is -- >> giving away your cell phone number is as dangerous as giving away your social
inflated the viewing metric, too. that could hit that ad revenue. ashley: the metric they used to set ad rates may not be correct. liz: it's inflated for certain content. ashley: we'll have more on that, e-mack. thank you. here is harry reid on the floor yesterday blasting donald trump for hiring steve bannon, watch this. >> inflict will take more than words. talk is cheap and tweets is cheaper. going to take action, but so far, mr. president, rather than healing these wounds, trump's actions have deepened them if one of his fishes, rst official- the white supremacy into the white house. ashley: i know a liz is a huge fan of harry reid and i say that tongue firmly in cheek. so he's talking about the need
for healing, unity and here he is blasting donald trump over steve bannon's appointment. your thoughts. >> the left is giddy that they have steve bannon to focus on. let's remember he didn't become any chief of staff or anything else in the white house. he's going to be a senior advisor and we don't really know what that portends. harry reid has made his reputation being a vicious attack dog, talking on the floor of the senate how mitt romney never paid taxes over a decade and everyone knew it was false and to this day he's proud of it. he never backs down, the best thing he ever did. this is a man you should not listen to and not believe in and i really, i'm delighted to see the door close on harry reid. ashley: is there any pressure, focus on steve bannon. liz: the wall street journal says it would doom the trump presidency. ashley: the journal says that. liz: yes, wall street journal, white grievance policy should
not be near the wlous. >> in fact last night was on the radio with larry kudlow and bachelor and other people say this is so unfair. yes, he presided over the organization, breitbart, which very often carried hateful and racist sort of materials, but he personally is not inclined in that direction. not anti-semitic or racist. give him a chance and hear what he has to say as opposed to breitbart. liz: we have reached out to steve bannon and to hear him denounce that. ashley: in marion county to tell you about. two engines and cars were overturning.
little later on in the next hour. and that could have an impact on the market as well. but ever since donald trump has won the presidential election, the markets have been moving higher and higher. the bell is ringing and we're expecting to finish-- we'll start, i should say and i want to close this market before it opens. we're expecting to open slightly. i say the closing bell is next-- it's actually the opening bell. we're off and running and down 44 points. more red on the screen. those are the 30 dow stocks to the left so about two-thirds of them red right now, but again, all sorts of things could happen. will we hit 19,000 today? we'll have to wait and see and that's the cliche that stu hates the most. the s&p, same story, down quarter of a percent. and tech heavy nasdaq. let's see what it's doing, same story, down nearly half a percent. 5253. let's go on to oil. under heavy pressure, down 1/2
a percent, 45.56. we'll get the latest reading, a buildup or a drawdown. joining us, liz macdonald, dan, liz peek and good friend shah gilani, we're within shouting distance of 19,000. the oil could have an impact on the market, what do you say, dan, can we hit 19k. >> it's not that far off. a little over 100 points. the market is concerned about the election ap positive feelings from it. let's see what the economy does in the future. as far as the dow breaking 19,000, probably not, but not that far away so it's a decent shot. ashley: what do you say, shah gilani? >> i agree with dan. i don't know that oil will be in the mix, but i agree that 19 is within the reach and a breath away. if we don't see it today, a good chance the momentum being
what it's been, a couple of days. ashley: all about the trump momentum. the markets loving the plans, at least the plans, they have yet to become reality. >> the plans and in congress, the fact that those in congress have gotten on board with paul ryan, they seem to have a plan and people are ready for action and the market is down today, because the 21 dinner. the slam on trump for lack of transparency, breitbart, steve bannon, whatever they've got. ashley: steve bannon. >> i think there's a little negativity out there. ashley: the media are miffed because they didn't get invited to the steak dinner. check facebook, they found several more incorrect metrics dealing with how consumer interact with content. that can't be good news for facebook. liz: the stock is under pressure. we've got more details for you. the weekly average for viewers looking at content inflated by 33%. the monthly average inflated by 55%.
the articles that were looked at, overreported by nearly, about 8%. so, with this comes a couple of months after facebook admitted its viewing metric was inflated as well. got it hit bottom line potentially and advisors don't like not paying for what they don't get. facebook is trying to calm the waters right now. ashley: dan, this speaks to the heart of what the businesses do. the business model is that, you something that's almost floating out there. how many people watch and act on seeing an ad on facebook when you get news that maybe the numbers are not accurate. that's not good news for facebook and perhaps other social media stocks. >> no, all of these stocks, particularly facebook, is going to have to address the issue head on and say exactly what happened to give the investor confidence, that this is not-- this is an anomaly not long-term. they've got to get their house in order and down the line, if people lose confidence in what they're putting out, then it's
going to hurt them quite a bit. >> this is no different than finding some anomalies in the financial, it's problematic for facebook and it's going to continue to get hit on this news. ashley: go ahead, liz liz: it hits how the corps media sites make money. you've got to convert the viewers to ad dollars. ashley: that x-number of people are seeing your add, maybe take it on faith. >> i've never questioned facebook's numbers and now i'm going to. liz: they say it's a bug, stink bug. >> cockroach. ashley: thank you very much. minneapolis fed president has a plan to end too big to fail banks, is that right, liz? >> liz peek? >> e-mack. liz: they've been looking at the dodd-frank act.
neel kashkari has been on this. he is saying get rid of living wills, have capital ratio reserves, whether the bank can pony up the money. ashley: no more bail outs, and they'll be forced to keep cash and force themselves to break up. >> i hope when donald trump talks about regulation, hopefully this is one. you protect the banks from themselves how you do it, this is a brilliant, simple plan. >> i would also say that neel kashkari who ran for governor unsuccessful in california? is this a possible political thing for him? if he's thinking about his future if we're in a period of less regulation for bank, probably room for somebody who is championing more regulation. >> interesting. >> more for making sure that too big to fail does not go forward, et cetera.
ashley: let's take a look at twitter cracking down accounts associated with the alt-right movement. i guess who decides, e-mack, whether someone is alt-right. liz: twitter decides, they have an anti-hate speech, they shut down isis. and the alt-right is upset that a number of accounts have been suspended. it looks like dozens of them have been suspended and we're watching alt-right trying to go to other media accounts like gab to see if they can get the message out. >> it speaks to the twitter problem as far as anybody interested in buying them. how do you basically police the site and at the same time not have folks mad at you for now allowing free speech. ashley: it's a thin line. >> at one point we talk about censorship. >> that's the line. >> who is the policeman who is going to decide what kind of
site is spewing hate and what site is reasonable criticism of black lives matter or something? i don't know. ashley: let's move on. the parent company of snapchat filed for confidentiality for an ipo. this is not your twitter ipo, is it shah? >> i don't think so. ashley: they're valued at 20, 25 billion. >> some numbers i saw were as high as 45 million. ashley: 45 billion. >> and until we see all of their metrics and we may not see those for a while. it's hard to judge what they're worth. looking raise to 45 billion, the rumors out there. ashley: could be as early as march next year. >> it's interesting to see how it comes out and the market could use a good ipo. ashley: could get the market going again. let's chece big board, up and rubbinning and seven and a half minutes. i'm not going to call it flat,
but down. revenue testing equipment company agilent technology companies gave their outlook. the stock up. and boeing cutting 500 jobs and revamping its defense and space unit eventually, essentially flat right now. meanwhile, target, boy, they're smiling today. profit up 11%, helped by strong back to school shopping season and taking off up more than 9%, target. nearly at $78 a share. home improvement retailer lowe's cutting the profit forecast again. where are the shares? >> lowe's is no target. the stock is off the lows of the day. had been 5%. down 3 1/2%, much of the same story that we heard from home depot yesterday and that's the forecast going forward being a little tepid. but the ceo on the conference call a short time ago said he's
encouraged by first time home buyer activity that he's been seeing and also the home appreciation prices, so that should persist, and we do have a slightly better economy, wage growth and jobs and the like, but big picture here, they're a little concerned about foot traffic, and i will say both stores noted that the shoppers, amount of transactions rose and the amount that each spent rosement i don't know how much you spend when you go to the stores, but the average check 68.68. ashley: i usually spend two hours wandering around the aisles and go with a $2 screwdriver, i'm not the best customer. take a look at google, we're hearing that secret software in some android phones sent data to china here. liz: 700 million devices. talking shanghai technology somehow loaded already into these devices software that can possibly listen to your phone
calls, spy on your text messages, get your contact list, get your call history with the phone numbers, watch your apps that you're using, remotely reprogram your device to install apps in other things. it's also in tv's and cars and inwareables. this is a huge story. ashley: dan, i've got to bring you in. should we just assume that anything we're using these days is monitored by china or russia? >> well, based on this story alone, you really have to consider what you're thinking about when you're doing things. personally, anything i put out in the public, i'm good putting out in the public, but i sure don't want people mining my data to find out what's going on. this is a scary, scary thing that needs to be addressed and soon. ashley: it does, like we do these stories every day. gallup announcing that the americans confidence in the economy from minus 10 to positive. >> people like the message and
want someone to talk about economic growth. it's astound to go me that hillary clinton never talked about economic growth, instead talked about raising taxes on businesses and individuals. it was a ridiculous concept. so, yeah, i think that people cheered up and i think they're cheered up by the idea that republicans have the means. ashley: the control of congress. >> the means to move forward on a lot of stuff that needs to happen. ashley: less tax, less regulation. >> the general public, middle class america has been down, and donald trump changing that, it's rewarding in the stock market. ashley: let's hope he can follow through as they say. we're out of time. dan, liz and shah, thank you for joining us this morning. let's check the big board again this morning, slightly down in the early going, down 60 points now, at 18,862. former new york city mayor rudy guiliani reportedly on donald trump's short list for secretary of state. the question is, is he the right fit as the country's top diplomate? some people are asking that
question. also trump's 100 day action plan includes a pledge to cut off federal money to sanctuary cities, but the cities say they're not going to comply, they will continue to harbor illegal immigrants. we'll get into that, more varney next. i have asthma... ...one of many pieces in my life. so when my asthma symptoms kept coming back on my long-term control medicine. i talked to my doctor and found a missing piece in my asthma treatment with breo. once-daily breo prevents asthma symptoms. breo is for adults with asthma not well controlled on a long-term asthma control medicine, like an inhaled corticosteroid. breo won't replace a rescue inhaler for sudden breathing problems. breo opens up airways to help improve breathing for a full 24 hours. breo contains a type of medicine that increases the risk of death from asthma problems and may increase the risk of hospitalization in
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>> dr. ben carson surprised us all yesterday when he made news that says he was taking himself out of consideration for any position in trump's cabinet and now more behind that decision, e-mack. liz: dr. carson said rather than leading a federal department, concentrating on one issue, i feel i can have the biggest impact on the broadest number of issues by helping to lead a movement of my fellow citizens outside of
the washington bubble. so, he talked about possibly helping services secretary, education secretary. he feels he could be out there giving the trump message in less restricted way. ashley: he doesn't want to get sucked into washington d.c. life. liz: that's right. ashley: good for him. thank you, liz, interesting. liz: sure. ashley: let's check the big board for you, are we on pace today? we could be, to snap a seven-day winning streak. we're talking dow 19,000 although we're down, oh, in the same range for a while here at the beginning, down about 60 points at 18,863. meanwhile, back to politics, trump inseiders say that rudy guiliani is the main candidate for secretary ever state. and the media in freakout and i mean freakout. congressman, you if anybody know rudy guiliani very well indeed. what's your opinion? would he be a good pick for secretary of state? >> listen, i go back 50 years with rudy.
we worked together in the late 1960's and rudy brings out the best and very worst in the mainstream media. he will be an outstanding secretary of state. he's talented. got guts, he's intelligent. he's a world traveler. he's got a great interest in foreign policy and i know he's known as a u.s. attorney and as a prosecutor, as a mayor, but rudy has had an interest in foreign policy for as long as i've known him. very well versed and he would do a good job and well respected especially at 9/11. ashley: and one of the liberal mayors in sanctuary cities saying they plan to protect illegal immigrants from donald trump. listen to this. >> you're not going to sacrifice a half million people who love-- live amongst us, family members and people who are either permanent residents or
citizens, we're not going to tear family's part. that was new york, boston, chicago, l.a., basically saying the same thing. what if they defy the federal government and continue to be a sanctuary city if mr. trump wants to do away with them? >> yeah, i guess part of it depends how you define sanctuary cities. some areas deblasio is totally wrong. if there's a prisoner held by new york city in the state prison and known to be an illegal immigrant, then they have to comply with ice orders. if ice says that they should notify them of any illegal immigrant in prison they have to do that. if they don't, i believe the president has the right to cut off funding to the city and do it in a very severe way because you can't allow mayors to be determining which criminals are allowed to stay and which isn't. the only exception i would make, separate, if the person is an illegal immigrant and goes to the police on his own and he has no criminal background himself, reports
criminal activity in the community, i don't think that person should be deported because that can serve a real civic purpose especially since many of the gangs prey on people living in illegal immigrant communities. other than that, these guys have to learn, deblasio has to learn and rahm emanuel has to learn, they can't, and we've seen horrible stories of illegal immigrants carrying out crimes. the very least, a person is a criminal, arrested, an illegal immigrant and ice wants that person turned over to them. the city has to do that. ashley: very good congressman. and taking someone's money away that's powerful. congressman peter king, thank you. what you're seeing on the screen there, more students walking out in protest of president-elect donald trump. we've seen other walkouts there, but again, we're seeing this across the country and in new york, we're expecting new
york and rutgers, student in those schools are expecting to do the same thing and apparently the schools are saying okay, go for it. let's check this quickly for you, the dow trading down, could this be the day we snap the winning streak. the seven-day winning streak? near record highs. more high profile visit to trump towers and the mainstream media attacking donald trump for having a steak dinner with his family. how obviously. how about this, your cell phone number as important to your identity as your social security number. be careful who you give it to. we'll explain. when a moment turns romantic, why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat
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when filling at any of the more than 8,000 walgreens nationwide. call unitedhealthcare today to learn more about your prescription drug options and find the plan that's right for you. ♪ >> all right. poor turnout at the polls and democrats last week, could indicate trouble ahead for house minority leader nancy pelosi. is that true? >> yeah, that's true. nancy pelosi predicted they would take the house, the dems would take the house, but only won a handful of 30 or so seats to do that so now she's getting letters from nearly three dozen house minorities saying delay the vote until november 30th. ashley: after thanksgiving. liz: this is a growing sign of no confidence in nancy pelosi's leadership role. ashley: maybe republicans would
like her to stay there. >> paul ryan is coming in as house speaker again. ashley: our cell phones as you know contain sensitive information. and most people don't think twice about handing out, sure, you can have my number. gerri willis, how secure are we giving out the phone numbers. >> basically give it out to anybody. when you get a new operating system from apple, they send a text to your phone. this is the biggest threat right now to your privacy, your cell phone and everybody is giving out cell phone number like rain water. here is what one expert told me. >> our cell phones are truly an extension of our arms, of our lives and they're not just communications devices they are data storage devices and they're the ultimate gateway into our lives. >> that was adam from identity 911. he says, look, this is a big problem. here is what's happened and here is why it's happening now. businesses have used your cell
phone number as an identifier, right? social security, you have your e-mail address, but you know, often now it's uncell phone number and 50% of americans ditched the land line and are using cell phone only. ashley: what do they do. >> you have to know first what to do. they pretend to be a bank or pretend to be the irs and ask for you to reconfirm details. you're actually giving them information they don't have. ashley: you feel i can liao it's safe to give out a phone number. what can anyone do with a phone number. social security number, we know what they can do with that. >> the flip side of that. they pretend they're somebody else or try to convince you to call them. so, the idea here, the best thing you do. get somebody on the phone lines, asking you can you reconfirm details. oh, we may have a problem with your cell phone, we think that somebody might have breached it. problem with your credit card, give us the security code, the three numbers on the back of the card. don't do that. >> don't ever do that. >> look, a lot of people are
getting calls from banks right now to reconfirm details because there's been a lot of breaches with credit cards. i don't know about you, but in one four-month period i had three or four calls so you've got to be careful. make the phone calls yourself to see if there's a problem, but this is going to be the next big problem. ashley: i'm not going to tell anyone anything, that's the only safe way. great to see you. >> thank you. ashley: it's been a who's who of republican politicians coming and going from trump tower in new york city. donald trump, jr. says there could be more today. more liberal lunacy on college campuses, walkouts and anti-trump protests and so-called healing spaces, good grief. one lawmaker who wrote the suck it up buttercup bill. we'll explain next.
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>> we're having a little bit of fun with the game of thrones music and of course that graphic. here is why, with the comings and goings at trump tower the past few days, one official told it's quite game of thrones with the posturing going on and the back room talking and rumors, what have you. here are some familiar faces spotted entering trump towers, and jeff sessions, possible secretary of defense. for the campaign finance chairman, steve mnuchin, texas senator ted cruz now talk of him as attorney general. more on that in a moment. and florida attorney general palm bondi, ex-wife marla maples, tommy hilfiger. he does have an office in trump tower. the media suggesting that the transition is in chaos because of some of the changes the president-elect made. mr. trump tweeting this, very organized process taking place as i decide on cabinets and
many other positions. i am the only one who knows who the finalists are. liz. who else? i guess the world and his wife as we've seen at trump tower. liz: big name, lieutenant general keith kellogg, he served two tours in vietnam, an army veteran, gulf war veteran, gulf war one, he ran oracle, the tech company. their homeland security operations, maybe homeland security for him? not sure. looking at shaun spicer, the rnc communications director, served under the george w. bush administration and peter thiel. and we could hear in the next day or so, major positions filled, state department doj, commerce, defense, treasury so we're watching. ashley: there's like 4,000 positions. liz: the top spots we're talking about. ashley: just the scale of the thing, i think, is remarkable. anyway, as i mentioned before
the ted cruz sighting fueling speculation he could be in line for attorney general. listen to what governor mike huckabee said about that. >> it would be a big shock to me, we ran together there's never a big group hug involving ted cruz. i would be very, very surprised if that were the case. look, this election is full of surprises. ashley: that's for sure. tammy bruce joins us, ted cruz, he's got the legal chops, considered a very good lawyer, but considering everything that happened on the campaign, could he be attorney general?for the a
in moments ago and we've got that on camera as you can see. tammy, next one, steak-gate. donald trump fools the media and rushes up to the 21 club from here, and the media are throwing a temper tantrum. >> 21 club one of my favorite in the world. the media says without us being there there's no transparency. here is no transparency, when the media pretends to be reporting the news when all they're doing is smearing and
trying to create disruption. when there's a commitment by theedia and the president sees they'll be fair, i think they could be treated as actual journalist, at this point we haven't seen this. we've seen them behave as though they're with the other side and they've clearly not proven themselves being serious about real news, for them to be upset about not being included, the press conference are pretty much a modern invention. there's no rule that the media should be informed every minute of every day and frankly having access to the president in that manner, when you've proven yourself to be hostile in many cases, is something that should be earned. ashley: it's interesting, isn't it? he campaigned on not being usual. he was unorthodox, okay, he wanted to go out for dinner. the press were told, no, he's going to stay and bed down for the night. changed his mind, whatever. >> sure. ashley: was loudly applauded when he walked into the
restaurant and went home. >> it's not like it's secret. it was immediately on twitter with a photograph, it was identified as the wrong location and everyone knew it was the 21 club because of the toys on the ceiling. a fabulous place, we know where he'll be, he can't go anywhere without being noticed. it's like-- he's a big guy, everybody here knows it. >> you know it when he's-- >> we don't need the legacy media to tell us what the president-elect is doing. ashley: i wonder if bill clinton told the media when he was off on-- no, no, i won't go there. tammy, headline from magazine slate, no such thing as a good trump voter. in the article it suggests that all trump voters were racist. first few lines, quote, donald trump ran a campaign of racist demagoguery against muslim americans, black protesters. millions of americans voted for this campaign, thus elevating white nationalism and white reaction to the oval office. >> well, that kind of approach
of condemning an entire swath of people because of what they believe in is classically fascist, they're presented as less than human. ashley: deplorable. >> as something that should be rejected. it should be a lesson to those who write at slate or some of the other rags. well, not everybody is. americans generally are not. we're good people and we clearly like the underdog, we want to make the world better for everyone. i think this has been a learning curve for all of us, the fact is that's exactly the kind of rhetoric we have dismissed, that we've rejected, we've rejected racism. as a matter of fact, donald trump's agenda will at first lift up people of color, women, the gay community, people who are on the fringes of society because when there's economic uplift it affects the outside first. so, the real racism and problem has been the thing that's pushed 3.7 million women into poverty in the last six years.
ashley: it's outrageous for anybody that voted for donald trump is immediately a racist, absolutely appalling. >> americans, also, that's been used as political correctness to slut at-- to shut us up. >> and the big board again, we were talking about hitting 19,000 on the dow. we're in the same range, down 63 points. we look at this, they took a hammering after the donald trump victory. a comeback, only facebook down. problems with the advertising metrics, coming back, amazon, apple, alphabet, google higher. target helped by a strong school shopping season. check out target, a nice gain today, but home improvement retailer lowe's cutting its
profit forecast again. fewer customers visiting the stores, that's not good. down 2% the lows. president trump talking about cutting taxes. but advisors say that may not be the first move. >> we do want to cut the individual tax rates, no question about it, but where you get the immediate juice in the economy, you cut the business taxes and that's going to help the middle class, you'll bring more into the united states, and friend at the enterprise institute, the biggest beneficiary, listen stuart, it's important, the biggest benefits are workers, because they have nor capital to work with, have more raises and get more jobs. ashley: that was steve moore on this program monday. come in mike kelly on the ways and means committee. very well qualified to talk about tax cuts. congressman, when will we see a
tax cut? >> you'll see them soon. you know, ashley, what steven talked about, this is about jobs, jobs and more jobs and president reagan said what's good for the american worker is good for america. the money taken from them will be given to them to spend the way they think they should spend it. a robust economy is the answer to all the single problems we have in our country right now. just vision, this where people have more money to spend the way they think they should spend and go out and earn it, investment back into the economy. this is going to be a tremendous advantage for everybody across america, and so i'm looking, so excited about it because the first time somebody from the private sector who is going to be putting forth, this is incredibly important, politicians make policy they've never ever done, what they make policy for. i want people who actually there, boots on the ground, people that work with it every day, they know about investment. they know when you make the right investments you hire more people and you buy more equipment and people who make
the equipment have a stronger job and economy, this affects every single american and they puts every single american in a better position to do with their money what they want to do with their money and invest it the right way and do what's best for them and their families and communities and america, a tremendous opportunity. ashley: steve moore argues that businesses should get the tax breaks before individuals. do you agree and why? >> when businesses get the break, individuals are going to get the break because we know that businesses are made up of individuals. we try to categorize these people in two i think so this, it's not true. every business i'm involved with, i'm a businessman, i have 150 people that work for me, every two weeks i make sure they get paid and i can only do what we have the economy that you can grow in. when you spent billions of hours to figure out the tax code and billions and billions of dollars to make sure you're right. all that time and money, ashley, imagine that money and that time now being repositioned into the full growth policies.
ashley: i'm imagining congressman and looking forward to it. appreciate it. >> blue skies and a strong wind at our back, what we're looking for. ashley: great stuff. thank you so much. and this, by the way, anti-obama protesters in greece setting fire to objects in the street. police having to use tear gas and stun grenades. president obama was there visiting the greek prime minister. some blame the u.s. for the economic troubles. that's where you see the protesters. those violent protesters in portland. half of those arrested didn't vote in the election. how about that? and this lawmaker in iowa is telling anti-trump protesters to suck it up. listen to this. >> you've got a right to be a brat. you've got a right to protest, that's constitution to protect it. you don't have a right to shut down interstate 80 and put my constituents' lives in danger.
moments ago our camera caught eric trump and senator jeff sessions arriving at trump tower for transition and cabinet talk that you can see there. and also, steve mnuchin possible secretary and he spoke about the economic plan. >> talking about taxes and the other big focus is regulatory changes, looking at creation of the infrastructure bank for infrastructure investment the there's a lot of things to do and the economic priorities are clearly taxes, regulatory trade and infrastructures. ashley: fantastic. that's exactly what donald trump was running on, of course, less taxes, less regulations suffocating business and also some sort of infrastructure bank or funding structure so we can rebuild the infrastructure in this country. you know, i would say that that's exactly what people want to hear, right. liz: market reaction is whether or not that's inflationary. ashley: true. liz: policy reaction is can they get the story line across
that ronald reagan succeeded this way. and the story now is obama inherited it in crisis in regegs. reagan create-- inherited worse one. bank of america created 10 million jobs, and obama likes to knock out 2009. equally reagan created 5 million more with the push. ashley: as protests on college campuses begin. one iowa lawmakers has this for them. >> i name it the suck is up buttercup bill. you have a right to be a brat. you have a right to protest protected by the constitution. but you don't have a right to block the i-80. when people say suck it up buttercup, that's over the top
thing to say and so are the protests happening. ashley: iowa state congressman is joining us now. listen, you want to reduce funding to schools that you say excessively coddle students. explain that if you can. >> well, thanks for having me. you know, one of the impetuses for this in iowa our tuition rates continue to raise and raise and raise and we keep hearing at state legislature they need more and more money. and what i want to guard against, magical pots ever money used for cry rooms, rooms to use to coddle people who are upset with the election. to me that's not doing a service for students going out for adult hood. when you have your car broken down, kids sick, late to work, a second job for a mortgage. you don't get to go to a cry room and be coddled. that's life and i realize the bill is something that might offend people, but life offends people.
ashley: it certainly does and i concur with your frustration over this. it's not just sour grapes, it's actually-- you know, the schools are allowing this to happen, aren't they? >> well, they're allowing it to happen, postponing exams, making exams voluntary. how fair is that to the people who are putting in the work to prepare for those exams? >> you mentioned in the sound bites, you mentioned i-80. you had students go out and block the interstate. is that right? >> yeah, that's truly the source of my passion. i had constituents calling me, they were falsely imprisoned on i-80 because there were no exits to get off of. imagine if somebody had to get to the hospital or if somebody had to take their child in to be sick and they were delayed by a half hour because of these protesters? that puts my constituents in danger and that's wildly unacceptable. ashley: certainly is. i wish you the best with your bill, suck it up buttercup. thank you for talking to us,
>> thanks for having me. ashley: breaking news, moments ago senate republicans reelecting mitch mcconnell as majority leader. no big surprise there, mcconnell stays as majority leader. more breaking news, trading on dry ship ink has been halted. why is that. liz: extremely rare market action. we haven't seen an epic short squeeze going on like this with dry ships. this is a penny stock, $5 stock and popping to $100 a share. when you short a security and sell a security you don't own and borrow it back, you borrow it back believing the price will drop pocketing the difference. they had positive news, restructured the debt. global trade may go up under trump administration and shorts didn't have enough volume or float out there to cover the bets. only one million or so shares for dry ships and cut down to
5,000. ashley: donald trump wins-- >> any good news for dryships kills the shorts and they're trying to find the shares to buy to cover that. ashley: i've been told this stock is up 1600% since donald trump won. liz: that's exactly right. ashley: made the wrong bet. liz: look at the action and you will see rare market action with dryships the likes you've never seen in a long time. ashley: amazing stuff. e-mack. thank you very much. liz: sure. ashley: now this, senator barbara boxer very disappointed that hillary clinton did not win the election. we get that. she w wants to get rid of the electoral college system altogether. boohoo. more varney next. ♪ cheer up sleepy jean, oh what can it mean to a day dream believer and a homecoming queen ♪
>> senator barbara boxer speaking on chelsea handler's netflix talk show, says she wants to get rid of the electoral college. listen to this. >> the electoral college system is a bad system set up so long ago. i wish we could change it, it should be one-- it's happened to us twice now, al gore-- >> how do we change it? >> you can change it, it's very compl complex. [laughter] >> oh, dear. ashley: tammy is laughing. let's go to e-mack. she has a bill. liz: she contradicted itself. it's extremely complex. you need, 38 of the 50 states to ratify it, right. ashley: right. liz: so, 32 governorships or g.o.p., republicans, so.
ashley: forget it. liz: it's a tall order and both houses of congress are now g.o.p. controlled. ashley: there's a good reason for it. >> she complains because it was so long ago. so was the constitution. so let's throw that out, too. [laughter] look, there's a reason for this. the founders knew what they were doing. you've got to have a realization some smaller states they have much voice as california or major population areas and otherwise you feel like you don't matter. when you don't have to be talked with or dealt with or convinced like michigan or chicago. ashley: you get ignored. >> look what happens to flint. look what happens to detroit, chicago and los angeles. the electoral system is to make sure that everyone in the nation and state feels they have a voice which is why every senate just has two senators no matter what their population is. and barbara boxer knows this, there are only four states that have a democrat governor and they control also the house. and rhode island, oregon,
hawaii, california, they know that they want the elite to control washington instead of the people. ashley: you've made your case, tammy, very good. moments ago, senate democrats reelecting new york's chuck schumer as minority leader as expected. taking a quick look at oil as we wait for the inventory numbers out any second at the bottom of the hour, oil moving slightly lower and this, our next guest says that china already started with a trade war with america and that president trump needs to fight back. >> what they've done to our country the biggest and greatest theft in the history of the world. >> this is the one i didn't want to hear, give me china, give me china. did you ever see china? >> china, china. >> china. >> china, we don't win anymore. when was the last time we won. we lose to china.
ashley: let's check the big word for you. we been stuck in the same bridge the the opening bell. down 64.18858 on the dow. it had 19,000 today. not a lot of impetus at this point but we are waiting for oil. liz: way more than expected out. 5.27 million barrels of oil. look at the bearish action and oil right now. the third straight week. ashley: we have a lot more oil than we thought we would have we would have. liz: temporal the expectation. ashley: that should push the price down. thank you, liz. scott shellady at the cma. >> that's three times as much as we were looking in. nothing bullish in its report.
i'm afraid this could be the fly and translate men. as the rest of the market goes, this is the only one who hasn't been react into the trunk before he appeared at the start to see oil get below 40 and put a pall over the market, that's my only worry here. ashley: we just found out that they found a new oil field and went text says that they are calling three times the size of the oilfield which would make it absolutely enormous. u.n. attack about energy independence. >> is going to take a little while and it's going to take pretty advanced drilling to get there as well. again, that is not all issues. we have to keep an eye on the oil market because this could disrupt the good feeling in the short term. keep an eye on oil. ashley: we will do that, scott shellady. already the price of oil down just under $46 a barrel, but now it is down maybe going below 45
pivotal keep an eye on it for you. a lot more oil in reserve and expect it. president-elect donald trump talking with chinese president she's in pain, the u.s. and china will have a strong relationship, but some are still concerned. global times wrote about concerns of trade issues with airbus, u.s. auto and iphone sales in china will suffer a bag and u.s. corn imports will be halted. these are the threats being made. china can limit the number of chinese students studying in the u.s. bid gordon chang, author of the coming collapse of china is here. already, you say court and we are in a trade war and donald trump needs to fight this behavior. what do you mean? >> china especially has been trying to close up the chinese market reserving it for large state enterprises and some
favored private companies that they are awkward to be domestic. we have seen a number of factions touches very discriminate tory anti-monopoly investigations against foreign companies. china is combining enterprises into formal monopoly. also more state subsidies for state companies and all of these new cyberworld, especially the cybersecurity law enacted about a week ago really are intended to cripple foreign competitors. this is a trade war. china declared it, is waging it and we are pretending it doesn't exist. it is good trump is taking a more review of this. ashley: what do the chinese make of donald trump? does that give them reason to fear him a little bit? >> in the trade area they certainly do fear him and i think they will try to defang him quickly before they can do real damage to the chinese economy which already is in trouble. up imports and exports
following. not growing up to 6.7% they would probably claim for the last three quarters. it's probably half that in incurring a lot of dead. china is very fragile right now and they don't want trump to do anything which would trigger a further loss of confidence. it was $1 trillion of net capital outflow. no country can withstand not. >> the bottom line is we need china and china needs us. something needs to be worked out. >> of course we also need the smallest country in the world. we ran a deficit. china ran a good and trade surplus against the u.s. at $334.1 billion which means we have 334.1 billion why we don't haveo be afraid of them because and trade wars come a trade deficit always do better.
we've got to remember we are on the good of this. ashley: we are indeed. interesting to see how donald trump deals with china. gordon chang, thank you very much. really appreciate it. >> thank you, ash. ashley: century cities will not help donald trump keyport 2 million to 3 million criminal immigrants. he's been very vocal in its opposition to transplant. take a listen. >> work with local police stations. i need them to be witnesses to violent crime. i need them to be part of the fabric of los angeles if we are going to keep the city safe. for a local law enforcement agency to take on the role of immigration enforcement tears that fabric apart. ashley: l.a. mayor eric garcetti doesn't use the word sanctuary city. he says it is ill-defined. ralph peters joins us. colonel, you say these refusals are downright dangerous, is that right?
>> they are dangerous on two levels. first of all, take what the l.a. chief of police just said. think about it. who are the primary that in some illegal immigrant a lens, gang members, drug criminals? they are the legal immigrants themselves in the immigrant community spirit president-elect trump is already said his priority is getting rid of the felons, criminals. what on earth could possibly be wrong with that? the greater problem than a specific issue of illegal immigration in sanctuary cities as we are becoming a nation as selective law enforcement. i'm both the left in the right, people want to obey some of the laws but not the rest. federal law has to apply equally everywhere. the rule of law is all that keeps that the terrible human darkness. beware of select law enforcement on any side.
>> was reading this quote from chicago mayor robert emanuel who says you are safe in chicago. you are secure in chicago appeared you were supported in chicago. if i am a terrorist or criminal illegal immigrant, guess i'mgoi? we chicago, maybe l.a. appeared >> the reason i'm laughing and i cracked up when i first heard that quote. when he says you are safe in chicago, nobody is safe in chicago. chicago is more dangerous to american citizens in afghanistan and iraq. any given week at chicago, more americans are killed than a day this year in iraq and afghanistan. there is so much lather in bs in this. the president elect and nobody's going to give priority to kicking out the hard working woman is a chambermaid at the holiday inn to support her two children but getting rid of felons, criminals, drug gains is
essential, essential to law and order in our country, but also the safety of the immigrant communities themselves. i find the democrats utterly dishonest on this. if they cared about the people they go after criminals. all they care about his future votes. ashley: that's a very good point. ralph peter is ralph peter as always, thank you so much. let's take a look at the start one week since president-elect trump one. the dow has gone almost straight up. let's bring in nicole petallides. nicole, you'd like to try presidency. >> four straight consecutive record highs. we've had every single day up since president-elect donald trump was voted to be our president of the united states. we are looking at someone with charts and around charlie brader senior editor actually calculated the point changes which is about 600 points or so. it keeps fluctuating from where we were. the gains that we've seen, goldman sachs since the trump
election 165 data points. united health, caterpillar, jpmorgan have been some of the best performers. they have certainly been stellar no doubt. the banks know that because the regulation, for example and the other set tears that should do well the term presidency. ashley: very impressive. nicole, thank you so much. up next, one of barney and companies favorites. a take on the u.s. version. donald trump's victory. she's always such a great sign. the world's first drone pizza delivery courtesy of domino's in new zealand. deliver to a couple about 20 miles north of oakland. flight time, less than five minutes. at thing of beauty. trade for what a time to be alive. ♪ oft cloud helps us stay connected.
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ashley: to basic economy fare class. high probability of metal seats and a screaming baby and you can choose the overhead then. you have to put whatever you've got under the seat so that is basic. braking is happening moments ago. build up lazio arriving at trump tower for a committee was president-elect donald trump. we are told he will hold a news conference after the meeting. that should be interesting. two very politically diverse that terms. polar opposites. let's check the big work at about 50 points at eight teen age 73. bully at 19,000?
a long way to go yet paid the mid-market story snapchat preparing for an ipo. transport may be upwards of 40 billion valuation for this. i think we have full screens of what one of our viewers to click snapchat. are we going to post them or no? when the cat's away the mice will play. stuart knew this. kind of cool, a beatles fan. and look at me, and alien. i like how my hair looks in this shot. for once it looks good. ashley: good stuff here. let's move on. looking at a picture of president-elect donald trump. that's a lot of gold behind them. nigel vlad added the u.k. union. katie hawkins frequent guest on
the program, one of the most popular. >> i think trump still going to win this thing. i'm still really excited here in london. ashley: there you go. trump's victory wasn't the only thing she predicted correctly. listen to what she said about britain leaving the e.u. >> i want your forecast. stay or leave. who wins on thursday night? >> i am going lead, even though the post in my garden, so i'm not over last night, my heart is still leave. ashley: katie hawkins, i want the numbers. we have some more predictions from you in just a little later on. how is europe reacting to trump's win? i can only imagine. >> well, some as you might imagine her taking adjusted badly as they took the british exit. there is an outpouring of ideal that rule system now, the
collegiate system is unfair, why clinton won the popular vote. anything but accept the fact that trump won and they were wrong. they just can't get over themselves. ashley: they need saves bases apparently. this opinion piece from "boston globe." i don't want trump to succeed. i want him to fail spectacularly. what do you make of these negative media reactions almost coming out on a daily basis? >> it is very similar, isn't it, to the brexit we had here. dining out on the fact that we still haven't triggered article l, the process believe in the e.u. they love the fact that the campaign there, the league campaign is in disarray that we are now waiting for a supreme court ruling to tell the 17.4 million people whether we can leave the e.u. after we voted to say we wear. it's a very similar feeling that people want. the thing they didn't want to
happen, they wanted to fail. i don't think trump is going to fail. i think it's really going to surprise everyone and i say what he's done for your pc is given additional momentum so i think we will see more of his type, farage, trump, next it will be marie le pen. i think that it's a very positive thing for europe because they been overrun by migrants. >> next-line katie and above your opinion on this. students across the country walking out of classes to protest president elect election. what would you say? >> i can't stand on transgenic protest on the best of days. they are always on watch. none of them can never have a shower. i don't know why protesting correlates with not being able to use the bathroom, but it always does. they have displayed little placards and they just turn it around and put them being different depending on what they
are protesting about that week. whenever i go to university campus, i take talks is the tissues with me and hand them out so they can dry their tears as they go because i'm even daring to walk on their campus. the fact they need to save space to discuss anything and want them to take down the trump tense campaign logo because it offends their kind of sensibilities. get over yourself. wizard of generation are we bringing up here that can't handle a campaign poster. some of our forefathers fought in the war for good mistakes and they can't even fight their way out of the subway. ashley: we will give them a safe place. more with you. i do have breaking news. friday's report in the trump adviser, lieutenant general michael flynn on the shortlist for national security adviser and senator tom cardin of arkansas seriously considered for secretary of defense. a lot of these announcements. nothing definitive but we are
paring down the names or positions. check out this video outside kansas city. interstate 35 a police officer helpina disabled car on the side of the hiway. i promise it's coming up. the officer turns back, sees another car skidding towards an. we've lost the video. he jumped out of the way and thank goodness -- keep your eyes in the back of your head on the highway. the dow trading lower and has been in the same range for a while down 58.618864. up next is more with katie hawkins pitch he did predict the brexit though. she also said donald trump would win. what else is she going to predict? we don't know, but we are going to be here next. ♪ ♪
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donald trump told a while? >> yes, he will build a wall. some of that might be fencing. there will be a wall. ashley: will trump and vladimir putin become friends? >> i think they will. food and maybe even godchild god child to one of trump's future children that he may have. liz: which celebrities do you think will actually beat the united states and maybe follow through move to canada? >> i mean, let's hope robert de niro goes. off you go. lena done him can go as well because she's done nothing but complain. if they promise to go, then go because frankly we begin to see the back of them. when you go to the country and it would donald trump and more importantly ms. stuart and ashley. >> there's the more important thing. trump can wait. he can take his pace and the key with the rest of them. do you guys i'm coming over in february 2017th and i'm going to give stuart varney the fight
of his life. liz: that's hysterical. we really want to meet you. you'll never guess was stuart varney gave me for christmas last year. it was a jar of pickle lilly relish. i know you've been in britain. >> on give you a much better gift than that. liz: next up, many supporters of president elect donald trump wanted to know when the border wall is going to go well. we will talk to the vice president of the national border patrol about that coming up. first, new york mayor bill deblasio currently at trump tower. we spoke to peter king last hour. here is what he said. roll tape. >> part of a defense on how you defend sanctuary city. for instance, if there is a prisoner being held by new york city or the state prison and he's known to be an illegal immigrant, then they have to comply. if i is such a big notify them
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>> obviously not a norm situation dealing with a president-elect. normally in these situations whether the person likes it or not we understand it can can be difficult for a pool of reporters following you everywhere. this is part of being president-elect is b you no longer get to have same level of privacy as normal citizen even if your life as normal citizen is celebrity. ashley: president-elect donald trump one week after winning election and mainstream media stacked against him, criticized. ashley: oh, no, having steak dinner for his family. shock and ah.
i'm ashley webster in for stuart. nbc trump leaves press behind for state dinner, incoming administration showing lack of transparency. this from cnn. donald trump ditches his press pool again spurring sharp criticism. one more from "slate" magazine. there is no such thing as a good trump voter. here on "varney" we focus on real likeissues you know that. big part of the donald trump's campaign, cutting taxes. the question, how soon will we get them. which one should bed first, business or personal? we'll talk to the man who worked on tax reform with the republicans. later this hour the national border patrol council that endorsed donald trump back in march when trump championed building a wall. we'll talk to them when we might see a wall. whether a fence would work in some parts of the region. the man on your screen, i
promise coming up soon, todd hoffman, no that is one of the stars, on discovery's hit show, "gold rush." president-elect donald trump says he will bring back mining jobs. we'll talk to him about that and making it rich in gold mining. hour three of "varney & company" starts right now. ♪ ashley: well, just moments ago more arrivals at trump tower this morning. like piccadilly circus. economic advisor steve mnuchin, eric trump, senator jeff sessions all arriving earlier this morning. the transition team as they put together their administration. get this, new york city mayor bill de blasio arriving for a meeting with president-elect trump. we are told the mayor will hold a news conference after that meeting. let's get right to it though. donald trump in his first 100 days vows to tackle the tax code and cut taxes.
what a great idea. let's bring in grover norquist, americans for tax reform president. grover we say it a lot. let's hope it comes true. when do we get tax reform and which is more important first, business or personal tax cuts? >> well i think they're going to come together and good news is, that donald trump campaigned on reducing the corporate rate from 35 down to 15%, reducing individual rates for all americans, for going to full expensing for business investment. tear tore alty, to the $2 trillion plus can come back to the united states and be invested here and the house and the senate have similar plans they have been working on. chairman brady, head of the ways and means committee on the house side and chairman hatch on the senate finance. they're all in the same zone. so this is not going to be some argument or long drawn out negotiation. could you sit down in afternoon and take the house and senate and hatch a proposals along with
trumps and put them together and get them enacted through reconciliation which means you only need 51 votes in the senate. this will happen this year. certainly take effect immediately. so if you're making investment plans now, know that from day one the lower rates will be taking effect even though it may take them several months to actually pass the legislation. ashley: do you ever envision the day, grover, sorry to interrupt, steve forbes talks about it often, the day we take the massive tax code break it down so your tax return is on the size of a postcard? is there ever possible? >> it is possible. i don't think we get you all the way there this year. what we do this year is take rates down and get the government out of the way for more business investment and more job creation and when reagan did something along this line, this is reagan 2.0. this is taking reagan tax cuts,
moving in his direction and adding to it dramatic on corporate side and partnerships income paid through the personal income tax, that business income and bringing that down to 15% as well this is tremendous jolt for the economy. it is going to create, it will take growth from the 2% we had under obama, sort of french rates of growth, to 4% and maybe higher. reagan rates of economic growth. that opens the door to a lot of very good things. actually brings in more revenue through economic growth, when you grow at 4% instead of 2% over a decade, you net $5 trillion in revenue that helps bring the debt that we built up in the obama years back down a bit. ashley: it is such a wonderful thing to hear. i look forward to it all being put in place. thank you for joining to us give
us kind of an insider's view how it can get done. we appreciate it. >> it is cheerful. ashley: it is music to our ears indeed. thank you very much, grover. we never thought it would happen. get back to trump's unexpected steak dinner at the 21 club in new york city last night. i said shock and awe. it created quite a stir among the mainstream media. they're going crazy. lizzie what are they saying? liz: they're saying lack of transparency. i'm not sure how they made the leap. another comment out of slate. let's take it. donald trump ran a campaign of racist demagoguery against muslim-americans, hispanic immigrants and black protesters. misdemeanors of americans voted for this campaign, elevating white nationalism and white reaction to the oval office. ashley: interesting. they're taking whole another direction. not the press got left behind when he went to dinner, they're taking the point anyone who voted for him is racist. liz: you don't want to call
people deplorables or irredeemable. that sun fortunate. personally, rallies are, protests are fine so long as you do it after school and doesn't get violent. that is what america is built on. ashley: sure. liz: you know, so these are issues that the trump administration is going to have to counter somehow. ashley: but the opposition is not learning. they lost the election by tainting everybody with this one brush, that everyone is racist, everyone is a bigot. they're still saying it. liz: this is democracy. this is what happens. ashley: exactly. you lost. now to the markets. check the big board. the dow coming off the 13th record close for calendar year. only 138 points from 19,000. let's take a look at oil. oil of course as we know has been hit hard. the price going up $46. we know we got a lot more in storage. we're still swimming in the stuff, have been for quite some time. keith fitz-gerald. monday morning.com. great as always to have you here. this trump-infused rally has
been quite something you but my question is where do we go from here? as an investor have i already missed it if i haven't jumped in? >> no, ash, that is great question. that is very important, traders are taking a breather. there is a lot of money they need to take off the table, reallocate and pause before they effectively move things higher. as investor if you haven't missed anything. if it is buy low sell lie. big stocks we talk about all the time they have been beaten down mercilessly because they think you need cement and steel. reality you need both. you have opportunities on today that institution don't. ashley: popular app snapchat moving forward on its plan. we reportedly heard to go public early next year by filing or an ipo. estimated worth maybe 25, $30 billion. what areour thoughts on that? >> i think this is possibly the single-most dangerous ipo i have
ever seen in my investing lifetime. what you've got is a bunch of venture-capitalists who put in billion dollars or some hoping to sell it to uninformed retail investor at 10 times that. what people need to understand on big things like this, ash, when they have ipo, that is their exit even though everybody else is thinking initial trading opportunity. let snapchat go as speculation. it is not investment. ashley: buyer beware. thank you very much, keith fitz-gerald in beautiful seattle. thank you very much is. more breaking news. trump advisor lt. general michael flynn on short liz for national security advisor and senator tom cotton of arkansas being seriously consider we're told for secretary of defense. emac. what have you got? liz: former head of defense intelligence agency, general mike flynn it would not require senate confirmation nor testifying before congress if he is named nsa. go to secretary of defense idea. tom cotton he served in, veteran of iraq and afghanistan wars.
he served in the house of representatives. he also serves in the senate. he is the youngest senator right now. he is on armed services and he is well-regarded. came to donald trump's defense after that billy bush tape came out. ashley: ah, very interesting. more names floating around. all right, we have one of the stars from discovery's hit show. "gold rush." his name is todd hoffman he is compared by his colleague to president-elect donald trump, underdog taking on big, sometimes unrealistic goals but succeeding. we'll talk to him next whether trump can bring back mining jobs. first here is a clip from the new season. >> we need to slam as much different through this as we can. >> we'll never get 50-ounce. >> time is of the essence on that. we've got to get this gold.
into wet, clay, red material that stuff is packed in that feeder tied in. this is not good. oh. at this rate, we're never going to get 50 ounces. ashley: bet you they do. that was clip from the new season of discovery's hit program, "gold rush." it is terrific. our next guest one of the stars, you saw him there. todd hoffman. todd, welcome. i want to talk about the series. you have moved to oregon. is that your home state? >> yeah, orgeon is my home state. we've been mining in canada all these years. ashley: right. >> and i thought to myself, you know what? i'm an american. i want to come back to the united states. i want to either live or die you know, on my own soil. and so that is what you're seeing here. we're basically rebuilding. last year we dug up 3.3 million in gold. a lot of people, i'm taking a lot of heat for that. i'm moving back to oregon. ashley: why are you taking heat?
>> people i, i left something good there. i'm trying something new and i'm a fool. you know what? ashley: it is your life. you can do whatever you want. >> amen. that is how i look at it. ashley: your style. we were talking about this before we came on, got a bit of donald trump in you. he is -- >> is that good or bad? ashley: it's a good thing. well, he is the president-elect. >> hey, man. ashley: you set high goals. you know you will have obstacles and things come up along the way. you keep your eye on the goal. more often than not you reach it. is that actually right? >> i do. i set high goals. very lofty goals. i take that as a compliment. you know what? i voted for trump. i actually sent trump some money. so you know -- ashley: did you get a lot of grief for that. >> yeah. on the internet you do. i'm not saying that trump is not -- i'm a sinner like trump and everybody else. i'm not saying he is perfect. i'm not saying he will solve all the problems but, you know as a gold miner, why i'm gold mining
i'm watching our country print money get into debt all these years. it is like, i believe in gold because i'm worried. i'm afraid for my kids. we had to do something drastic and turn our country around. and i'm hoping he lives up to his promises. i hope we can reduce the debt and close down the borders a little bit. at least know who is coming into our country. that is -- ashley: not a lot to ask, is it? >> no is is not. ashley: he is big on mining jobs, more on coal, what have you. you're in the industry. obviously that is a good thing for this country? >> it's a great thing for this country. small miners and regulations everything they have to deal with. my name has been put into his, my name, my hat's in the ring for one appointed position that has to do with mining. ashley: fabulous. that is great. >> i don't know what will happen. i don't know if i could work a regular job anymore.
ashley: you don't want to wear a shirt and tie. >> i don't even own a tie. this is only shirt i own. ashley: it's a fine shirt. thank you. very nice to meet you. >> thank you. ashley: continued good luck and there is gold in them their hills. we know that. even in oregon. thank you so much. let's talk about this now. bill gross talking about what the trump presidency would do to the economy. what does mr. gross have to say? liz: he is bearish on donald trump. projecting a short four-year term. just one term. he will be damaging to the u.s. economy and basically the ideas has, that donald trump has will not help. create bigger deficits. inflation will go up. ashley: other than that it will be great. liz: corporate tax cut idea he has, saying companies already effectively pay well below 35%. varying towards 12%. won't have much impact. ashley: throwing a lot of cold
water on donald trump. bill grows on with liz claman today at 3:00 p.m. i'm sure liz will ask him very closely about the points bill gross is making. don't miss it, 3:00 p.m., liz claman. stuart is not here. we know. that doesn't mean we won't have fun at his expense. that is the best kind that is the chrysler town and country. only minivan he will ever buy. his has old-fashioned wind-downwind dose. jeff flock at l.a. auto show. he has the first-ever eye bid minivan. stuart if you're watching he will try to sell you one. go ahead. later this hour, we'll speak to the national border patrol council. we will show it. they endorsed donald trump when he said he will build a wall. we'll talk about the suggestion to build fences in some areas. will that fly with them? this is the first interview with president-elect donald trump on border. >> they're talking about the
♪ ashley: it is one of the auto industry's biggest events, the l.a. auto show. number of suvs unveiled this year. jeff flock that very named auto show. jeff? reporter: just for you and stuart we came to a revolutionary development. you know, our buddy there has been a long-time minivan owner, chrysler minivan owner. i have the head of passenger car brands for fiat chrysler. you do everything from the hellcat to the minivan, you have a first of its kind. what is this? >> little bit of split personality. first ever hybrid, 80-mile per gallon minivan. >> hybrid minivan. has electric battery. >> it is plug-in hybrid. hybrid technology and electric technology and you can run on gas. reporter: here is the problem, stuart varney our good friend may not be your classic hybrid kind of guy.
can we see this up close and personal? i put that mildly perhaps. why should a guy like stuart, who never met a tree he didn't want to you cut down, why should he buy a hybrid? >> easiest question i'm going to get all day because there is a lot of people would like to be environment environmentally friendly but a lot of reasons that keep them from doing that. a lot of high efficient vehicles are smaller and they have a family. they need big lar vehicle. this is seven-passenger full-sized mini van, most awarded van of the year, pacifica, they have number one, range anxiety. everybody thinks when they get plug-in car or electric car they get range anxiety. they have want to drive further. you can plug it in, 30 miles complete electric and then switches to gas and can go 530. >> not openly if that, stuart takes rebate, this hybrid is cheaper than the regular model. has everything the regular model
has and more for less money. i don't know where you go wrong with that. stuart, also in addition to cutting down trees likes to save money. ashley: he does, jeff flock. the only thing green on stuart cash locked up in his wallet. >> in his pocket. ashley: that was great attempt to sell him on a hybrid. excellent stuff. jeff flock in l.a. stop laughing. former attorney general eric holder a not only person calling tore end to the electoral college and senator barbara boxer. senator harry reid going after steve bannon, president trump's pick for senior advisor. reid did that on the senate floor. we'll deal with all of that first. here is a bit of what he said about mr. bannon. >> the wound he inflicted will take more than words. talk is cheap and tweets are cheaper. words will take action. if trump is serious about seeking unity first thing he should is rescind appointment of
being considered for the national security advisor position. for the white house. he is arriving at trump tower. minutes of many others that will transition process goes on and we continue to get names floated about but nothing definitive yet. democratic leadership in disarray. house members post the leadership vote until the end of november. let's bring in leslie marshall. she contacted this. if you get a break today from stuart, that's sad the word disarray. i have a feeling you'll say that is too strong but it does appear democrats are more interested in steve bannon then get in their own party together. >> i don't know about that. actually, white guy with a british accent come you guys are all the same to me. [laughter] i'm joking. all kidding aside, disarray
might be a bit strong. but it's not far off the mark. they are not just worried about bannon. this delay, although i do think it's inevitable that pelosi stays right where she is. what this does is make the democrats need to have a come to jesus moment. they need to sit down and have a conversation like they did back in 2000. it took them six years to be successful again. they made to look seriously at stop blaming what happened in this election, ignoring seriously the blue-collar worker in the message of the economy and how do you bring together those that were pro-bernie and those that were pro-hillary? do we go further left? how do we unite because that was the problem with the party and we saw that on every ashley: if they go any further left, they will be out of running the congress in the oval office are quite finished to
come. wouldn't you agree? fear not well, honestly i thought that at first because as you know i was pro-hillary and although i like senator sanders personally he went to my candidate. wasn't my guy. i thought it was going to far left who don't want favorite democrat and republican it might be fiscally conservative that you could bring one of those groups together. i don't know if it's necessarily the way to go. those people that stayed home and protest them and the people that voted for jill stein and gary john and anne and i definitely didn't affect the outcome of this election. those individuals are further left and they are young and they are part of this party for years to come in the future. ashley: at the time for nancy pelosi to step aside and get some fresh blood in them and who can lead to new democratic party to speak to the things you talk about? >> i would not be totally opposed to that.
on a slave because a change can be good. i'm not sure i'm liking this change coming forward. change can be good here the problem is we haven't seen anybody step up. there really hasn't been many names thrown into the ring and i don't think i november 30th when they make the decision that going to change. ashley: harry reid appeared yesterday railing against steve bannon. let's get back to that. roll tape. >> by placing a white supremacist to step away from the oval office, what message is transcending a young girl who woke up wednesday morning afraid to be a woman of color in america? it's not a message of healing. if trump is serious about seeking unity, the first thing you should do is resent his appointment as steve bannon. a song is racial division is in the oval office it will be impossible to take trumps accuracy of the nation
seriously. ashley: he would've lied about mitt romney's taxes for your cigar and bragged about it afterwards. it's very hard to take this guy seriously, leslie. should anyone believe him? >> in this situation, yes. he has nothing to lose. he is leaving. he is leaving his position. i think he was appealing not only to fellow democrats, but to republicans. it's not just this one individual and appointment and not concern. one of the things we saw the 60 minutes interview and that we see on science that does protesting, one of the concerns that are inherent in southern california among children is here. it's here if they're hispanic, fear of their muslim. president elect trump has says he wants unite this country. just saying stop it in an interview in my opinion on national television is not enough. his actions have to correlate to his words.
what this appointment is not just democrats that are concerned as to the message this sends to the nation and can fan the flames of that fear and that's a very dangerous place for us to b ashley: i don't think the democrats are doing a whole lot to unite the nation with the rhetoric either. we appreciate it. senator barbara boxer, democrat from california has filed a bill. all rights from all rights, judge andrew napolitano is here. judge, we have heard the sport. barbara boxer, it is a nonstarter, right? >> this is not legislation. this is a constitutional amendment that requires an affirmative vote. two thirds of each house of congress and then three quarters of the legislatures of the states. so is there so much of an uproar in the country? i think the answer to this is no. is there such an upper over the
fact mrs. clinton got a million more popular votes than donald trump but he's going to be the president. i don't think so. there may be an uproar among senator boxer circles because they lost this even other candidate got more popular votes than the president to be. i don't think there is a groundswell for it. if you look at madison's note, kind of funny. the purpose of the electoral college was to prevent the electorate from being swept off his feet by a strongman or a "mad men." i'm not making this up. by interposing a body between the presidency and the electorate which would actually choose the president. the electoral college. the theory being that the delegate might be pledged to hillary clinton or donald trump once in d.c. they were bound by the pledge. in the modern era, that has not
happened. ashley: first week of december the electoral college goes thirds vote. what if they suddenly change their mind? >> of it this way. new jersey that requires new jersey electors to vote the way they told the electorate they would. you have 13 electors, 15 going down their pledge to hillary clinton. if one of them changed his or her mind, new jersey law is in effect did and cannot be enforced in washington d.c. which is where the vote takes place. that was their fury that the elect are a caller should be separate to do this to correct error's a runaway democracy. what does this mean? people who wrote the constitution trust the democracy but not all the way. ashley: one more for you here. twitter shutting down accounts of those they can do their a private company and i assume they can do whatever they want. >> yes they can. the reaction would read these people who fear and feel that
they are being silenced would have to promote their ideas elsewhere. theoretically, there should be a marketplace somewhere for their ideas. the barriers to entry are extraordinary because the size of twitter. theoretically they have to find another avenue. twitter is not the government and they are not subject to the first amendment she had ashley: you are earning a paycheck today. the federal reserve bank of minneapolis president will announce an end to the too big to fail policy in order to revitalize the economy. what do you make of this? more regulations on banks to keep a lot more cash. >> very, very interesting that the federal reserve board to run contrary to the philosophy ideology preferences and behavior of the president when he has control -- when his party has controlled both houses of congress. i did not look to see women and members of the fed, when their terms are next up, but
president-elect trump gets to the federal reserve itself. i don't know how soon that can happen. we've rarely had this clash we're about to confront. the federal reserve tightened, loose ends and the super veils. the fed. they are kings. no pun intended. ashley: i was going to say. >> he said kings.queens. ashley: there we go. now we can move on. here i am laughing into a train derailment. that always happens. two trains 20 cars overturning block enough nearby, quite some dramatic video. fortunately, no injuries reported, just a huge mess. much more ahead, the coming retiremenretiremen t crisis many americans don't have a pension plan from their jobs. many have 401(k) plans but very little faith. a full report on the problem and the possible solution.
also, the national board counsel with us talking about trump's plan to build a wall and his stance on deportations next. >> what about the pledge to deport millions and millions of undocumented immigrants? >> what we are going to do is get the people that are criminal and have criminal records, gang members, drug dealers, a lot of these people, probably 2 million, 3 million out of our country were going to incarcerate. we are getting them out of our country if they are here illegally
>> and nicole petallides with your thoughts business brief. the data to clients after seven straight days of gains. four consecutive record close as for the dow. today we're looking at the downer. s&p down for while the nasdaq squeezed out a gain of 21. movers and financials under pressure. target has ice on seven demands for the holidays. financials also seeing names and others often the downside. this is the analyst evaluation which is really run out since trump was put into office in particular valuationvaluation s have run up as well. but this year about 40%. airlines under some pressure. since this competition going forward. airlines might actually go down, meaning the ticket themselves via boeing cutting jobs in their
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ashley: fabless president-elect donald trump at his first interview afterward in the presidential election saying he will build a wall on the southern border. listen with congressman billy gomer said about the wall in our program earlier. take a listen. >> i heard a democrat earlier today on c-span saying the president traveled is to come down to the border. we can do what he is talking about. we put the lives that they are, but we can get it done where it needs to be done. this is doable. >> joining us now, national border control vice president and spokesman. thanks for joining us. donald trump saying in an interview with 60 minutes we could have a fence in part. this wall could be fencing. what are your thoughts on that? >> i think in some areas the fence has been very good, mostly in our urban areas it has
stopped for referred to as stripers were vehicles bring people, weapons or drugs across the border. you can always have a better barrier and if awol is more effective in certain areas i don't think we should rule it out. ashley: what about tunneling? i'm not being facetious. we know drug dealers have used extensive tunnels to carry their product. is that just a very easy way of getting around a big fence? >> the easiest way and the people smuggling business use a ladder. we build a 20-foot fence. they built a 20-foot rebar ladder. the drug cartels are building these tunnels because it is cost effective for their business. the upside is so great. we need to increase capabilities in human intelligence because that's how we find out about most of these tunnels if someone drops a dime on someone else and we are able to come across the information to find the tunnels.
the fence is not an insurmountable barrier. you can go over it, go around it, but wonder it, but it's one tool we have to get a handle on illegal immigration across the southern border. stuart: based on what you just said, is it worth the money they can get a simple ladder and go up the ladder and go under or around it. is it just more symbolic than anything else? >> i think it is worth the money if it helped save american lives. obviously the illegal aliens coming to this country, some of them committing heinous crimes. people forget because of visa overs days we had 19llegal aliens on 9/11 killed 3000 americans. not just the people coming across the border. the wall is one part of the overall problem. i think it is worth it if it helped save american lives and for far too long we haven't been serious about border security.
stuart: -- ashley: this one with major cities like los angeles, new york, chicago will be five president electrons administration to be a sanctuary for illegal immigrants. what can a trump administration do if the city's refuse to cooperate which they say they will do. >> i think the problem is that the border we are not catching more than half of what is coming across and we are creating incentives by having places like sanctuary cities for immigration officials are not allowed to do their jobs. the police department, sheriff department in the cities are not calling immigration officials when they come across illegal aliens that have committed crimes. some of these are horrific. we need to make sure trent administration is going to have some consequence for the cities. if they are going to defy president-elect trump and his wishes on immigration, there needs to be a severe consequence for them. ashley: pulling funding is one
thing we heard this morning. really appreciate it. we'll check back in with you as we continue to follow this story. appreciate it. >> thank you that ashley: another update on president-elect donald trump. newt gingrich on trump's cabinet announcements could take a listen. >> i remember historically very often they did the announced cabinets in mid-december given the nature of the modern era they may not be able to wait that long and involve weeks out. i think that they will probably start with the biggest offices in the very near future. certainly shortly after thanksgiving the latest. ashley: there you go. gingrich speaking outside the trump transition office in d.c. vice president-elect mike pence expected to meet with vice president biden later today. america faced in the coming retirement crisis. 31% do not have savings at all. we will deal with that next.
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this is of course part of mr. obama's european farewell to her. back in 2008 when he was in berlin, president obama spoke to 200,000 people in the middle of berlin. he was treated like a rock star in. see how he is going to be received this time meeting of course with angela merkel of germany. just a ride from athens, greece where we saw some protest by the way blaming the u.s. for causing the debt crisis inquiries. hopefully we've all seen those in germany. america facing accounting crisis. blackstone president james is taken up the cause to rescue retirement. let's bring in adam shapiro to explain that the crisis is. >> that's go through the numbers. let me give you the headline. even i. even though you save for retirement right now, 401(k), ira, a good chance you are not saving enough and half of us will see a drop in her standard of living when we retire. 25 million of us will fall into
poverty. how is that to start your wednesday morning. this is why we are talking about this in the trump administration. average monthly retiree benefits for social security $1340 a month. that's enough to put a retiree today just about poverty and an annual basis. 48 million people getting social security benefits. 79 million by 2035. right now 31% preparing have no retirement savings whatsoever. those of us working at privacy or jobs about mr. retirement dating, 65%. of that 65%, only 40% take heart in savings. where we headed? right now on average when people are retiringnd they have retirement accounts like a 401(k) to supplement social security, they have to retirement with $110,000 to the site. those who don't have access to a 401(k) or other retirement savings account into retirement with her $2500.
bottom line, neither of those amount anywhere near. ashley: we are living longer. >> 52% of us will not be able to maintain a preretirement standard of living. it means by 2050, this is what tony james the ceo of blackstone has written a book called rescuing retirement in which he addresses these issues and proposes ways to fix it. the bottom line is 25 million americans will be in poverty when they retire. people watching right now, people working and saving for retirement. ashley: they are just not saving enough. >> the odds are stacked against you. 401(k) were intended to be supplement to social security. the guy who created or discovered you could do this in 1980 is called a 401(k) month to abuse. the other mistake americans make as you can withdraw in the united states from the 401(k) before you reach retirement. you pay huge penalties. in australia they don't permit
that. ashley: that's assuming we have social security still available. >> we will have social security still available. president-elect trump has said is not going to touch it. he talks about privatizing it, whether he can do that is another issue. ashley: scary numbers. president obama's plane air force one arriving in berlin. he will be meeting with angela merkel on his european farewell tour. he's just arrived from athens, greece. we will follow the president's progress as he arrives in berlin. more "varney" right after this.
ashley: that was a big campaign promise and became the main event. >> 20 trillion of federal debt right now. big government. ashley: pretty big swamp indeed. the market down 74 points. still waiting for these appointments. my time is up. neil cavuto, it is all yours. >> thank you, ashley. and i am the trump tower as well. when you're trying to get in and out of there you are in public display and it's hard to sneak into that building. when anyone tries to get in there, and raising eyebrows of course with the likes of ted cruz and now senators coming and going. you can't hide. connell mcshane outside the trump tower with the very latest on who he sees and what word as any we are getting on appointments. connell: and keeping an eye, neil, debris about that. mayor deblasio is in there right now. it's interesting the trump transition team has been sensitive to the critici